Yum! Brands, Inc. or Yum! is a Fortune 500 corporation, that operates or licenses Taco Bell, KFC, Pizza Hut, and Long John Silver's restaurants worldwide, and A&W Restaurants everywhere but Canada. Based in Louisville, Kentucky, it is the world's largest fast food restaurant company in terms of system units — over 35,000 restaurants around the world in more than 110 countries and territories. In 2007, Yum!'s global sales totalled more than US$10 billion.
Yum! president, David C. Novak became chief executive officer on January 1, 2000 and chairman of the board on January 1, 2001. Novak is a member of the Yum! executive/finance committee and is a director of J.P. Morgan Chase.
In March 2002, Tricon announced the acquisition of Lexington-based Yorkshire Global Restaurants, owner of the Long John Silver's and A&W All-American Food chains and its intention to change the company's name to Yum! Brands, Inc. In May 16, 2002, the name change became effective after a vote during the company's annual shareholders meeting, and on June 17, 2002, Yum! executed a two-for-one stock split.
In 2004 and 2005, Yum! Brands was the target of boycotts by the American Decency Association for its advertising on what it calls "trashy shows" and by the Organic Farmers & Gardeners Union for alleged "sweatshop conditions" among farm workers .
The growth of Yum! Brands throughout the United States has slowed from its previous rapid expansion. This is due to the fact that the chain has saturated most of the domestic market. The future growth of Yum! Brands is targeted mainly at foreign areas, such as China, where populations are enjoying increases in income.